Real ‘Work’? Clinton Swipes at Chelsea’s Profession

By Jennifer Parker

Feb 19, 2008 4:48pm

ABC News’ Jennifer Parker and Eloise Harper Report: Sen. Hillary Clinton took a swipe at her daughter’s profession today at an economic roundtable discussion at a restaurant in Parma, Ohio, suggesting wealthy investment bankers and hedge fund managers on Wall Street aren’t doing real ‘work.’

The former first lady’s daughter, Chelsea Clinton, works for New York-based hedge fund Avenue Capital Group. She previously worked in New York for McKinsey & Company, her first job after graduating with her master’s degree from Oxford University.

"We also have to reward work more," Clinton told a small group of Ohio residents today. "and by that, I mean, I have people in New York working on Wall Street as investment managers, as hedge fund executives. Under the tax code, they can pay a lower percentage of their income in taxes on $50 million dollars, than a teacher, or a nurse, or a truck driver in Parma pays on $50,000. That’s very discouraging to people."

You just feel like, ‘wait a minute. I’m working as hard as I can.’ All those people you see in your law office. They’re working as hard as they can and they feel like they’re just getting further and further behind," Clinton said. 

It’s not the first time Clinton has taken a swipe against her daughter’s profession. Campaigning in Wisconsin yesterday, Clinton railed against hedge funds as Chelsea sat off to the side.

"I saw a sign over here – someone has a t-shirt on, tax hedge fund dealers," Clinton said Monday, "well in this economy we are going to have a fair tax system again. A Wall Street investment manager, a hedge fund dealer, should not pay a lower percentage of taxes on his 50 million dollars worth of income.”

In 2006, Chelsea scolded her mother for telling an audience that young people "think work is a four-letter word." Clinton said daughter Chelsea called her to complain, arguing she does work hard and her friends work hard. Clinton later said she apologized to her daughter.

The line about investment fund and hedge fund managers has been introduced into Clinton’s talking points as she campaigns across the economically struggling state of Ohio.  Clinton is focusing her campaign on the delegate-rich states of Ohio and Texas voting March 4.

You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus